China’s benchmark Shanghai Composite Index (000001.SH) lost 0.35% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.28%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.27% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.6%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· PwC Loses Largest China Client in Wake of China Evergrande Storm
Bank of China switches to EY as growing list of Chinese companies sever ties with PwC
· Huawei’s Smart Car Unit Valued $16 Billion After Investment From Avatr
Avatr buys in to Yinwang to utilize its smart car technologies and talent
· Analysis: Can China Serve as a Safe Haven Amid Global Stock Turmoil?
To achieve that status, the potential of the domestic market must be fully unleashed
· Former Chinese Soccer Association Vice President Gets 11 Years in Sweeping Graft Crackdown
Li Yuyi, who accepted some $1.7 million in bribes, is among a quartet of soccer officials sentenced for corruption this week
· Commentary: Can India Be the Next China? There’s a Better Question to Ask
The South Asian country might not become as big an industrial powerhouse as its neighbor soon, but it has the potential to rapidly grow its manufacturing sector
Verdict expected this month in EU anti-subsidy probe of Chinese-made electric vehicles, Nio’s more affordable electric vehicle brand to start selling first car in September
· Shanghai Volant Secures Fresh Funding as eVTOL Sector Prepares for Take-Off
Startup rides investment wave as low-altitude economy race hots up
· Visa Waivers See Foreign Tourists Flocking Back to China
Big leap in visitor numbers to China but still not back to pre-Covid levels
· China Looks to Make Tying the Knot Easier as Marriage Rate Continues Decade-Long Decline
Under draft regulation, couples trying to register would no longer need to present their household registration documents, could get married anywhere in the country
· Opinion: The Time is Right to Deepen Interest Rate Marketization
A clear understanding of the factors affecting the efficacy of marketization is required, along with profound and systematic reforms
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This article was generated by Caixin Automation.
